Finance Act, 1994

Amendment of section 95 (interpretation) of Act of 1983.

115.—Section 95 of the Act of 1983 is hereby amended in subsection (1)—

(a) as respects any valuation date (within the meaning assigned by the said subsection (1)) commencing with the year 1983, in the definition of “income”—

(i) by the substitution in paragraph (a) of “sections 340, 353, 354 and 463” for “sections 340, 353 and 354”,

(ii) by the insertion in paragraph (a) of “ section 18 of the Finance Act, 1970 ,” after “ section 37 of the Finance Act, 1968 ,”, and

(iii) by the insertion of the following paragraph after paragraph (e)—

“(ee) income arising from savings bonds duly issued under section 54 of the Finance Act, 1970 ,”,

and the said definition, as so amended, is set out in the Table to this section,

(b) by the insertion, in the definition of “relevant person” of “a person who has attained the age of 65 years and is not an assessable person, or a person who is permanently incapacitated by reason of mental or physical infirmity from maintaining himself and is not an assessable person, or” after “other than”, and the said definition, as so amended, is set out in the Table to this section, and

(c) by the insertion, in the definition of “residential property” of “, where the Commissioners are satisfied that reasonable access is afforded to the public having regard to subsection (4) (b) (ii) of the said section 19 as amended by the Finance Act, 1994” after “ Finance Act, 1982 ” and the said definition, as so amended, is set out in the Table to this section.

TABLE

“income” means total income from all sources as estimated in accordance with the provisions of the Income Tax Acts but without regard to—

(a) any of the provisions of those Acts (apart from sections 340 , 353 , 354 and 463 of the Income Tax Act, 1967 , section 37 of the Finance Act, 1968 , section 18 of the Finance Act, 1970 , section 19 of the Finance Act, 1973 , and section 9 of the Finance Act, 1982 ) which provide that any income is exempt from income tax or that any income is to be disregarded for the purposes of those Acts or which otherwise provide that any amount of income or any part thereof is not subject to Irish income tax,

(b) sections 89 , 236 , 251 , 254 and 496 of the Income Tax Act, 1967 ,

(c) Chapter I of Part IX of the Income Tax Act, 1967 ,

(d) Chapter I of Part XIX of the Income Tax Act, 1967 ,

(e) section 11 of the Finance Act, 1967 ,

(ee) income arising from savings bonds duly issued under section 54 of the Finance Act, 1970 ,

(f) section 26 of the Finance Act, 1971 ,

(g) Chapter II of Part I of the Finance Act, 1972 ,

(h) section 14 of the Finance Act, 1977 ,

(i) section 25 of the Finance Act, 1978 , and

(j) sections 23 and 24 of the Finance Act, 1981 ;

“relevant person”, in relation to an assessable person, means, as respect any valuation date, any person (other than a person who has attained the age of 65 years and is not an assessable person, or a person who is permanently incapacitated by reason of mental or physical infirmity from maintaining himself and is not an assessable person, or a person who is an employee of the assessable person and whose employment is wholly or mainly connected with the relevant residential property) who in the year ended on that date normally resided at any relevant residential property of the assessable person and who, or whose spouse,—

(a) made no payment of rent or other like payment in respect of such residence, or

(b) made a payment of rent or other like payment in respect of that residence of such amount that, if it had been paid by a person to whom subsection (2) (b) (iv) applies in respect of the relevant residential property under a lease, agreement or licence referred to in subsection (2) (b) (iv), that last-mentioned person would, by virtue of subsection (2) (b) (iv), be the owner in relation to the relevant residential property;

“residential property” means—

(a) a building or part of a building used or suitable for use as a dwelling, and

(b) land (other than a garden such as is specified in section 39 (1) of the Finance Act, 1978 ) which the occupier of a building or part of a building used as a dwelling has for his own occupation and enjoyment with the said building or part as its garden or grounds of an ornamental nature,

but does not include an approved building within the meaning of section 19 of the Finance Act, 1982 , where the Commissioners are satisfied that reasonable access is afforded to the public having regard to subsection (4) (b) (ii) of the said section 19 as amended by the Finance Act, 1994;